The Federal Government has reviewed the fees paid for vehicle number plates and driver’s licences.
A statement issued by Olusegun Ogungbemide, the Corps Public Education Officer of the FRSC, the JTB revealed the revised rates for vehicle number plates and driver’s licenses after a meeting in Abuja.
According to the new rates, a Standard Private or Standard Commercial number plate will now cost ₦30,000, up from the previous price of ₦18,750.
Fancy vehicle number plates will experience a more dramatic price hike, rising to ₦400,000.
Motorcycle number plates will now cost ₦12,000, while articulated vehicle number plates will be sold for ₦90,000.
The number plates for vehicle dealers will be priced at ₦100,000, while Out of Series number plates are now ₦150,000.
Government vehicles and motorcycles are also affected by the change.
A government fancy motor vehicle number plate will cost ₦120,000, and a government standard plate will be ₦80,000.
For government motorcycles, fancy plates will cost ₦50,000, while standard plates will be sold for ₦20,000.
The JTB also approved new fees for driver’s licenses.
A Motor Vehicle Driver’s License valid for three years will now cost ₦15,000, while a five-year license will go for ₦21,000.
Motorcycle and tricycle drivers will also see changes, with a three-year license now priced at ₦7,000 and a five-year license at ₦11,000.
These increases represent a notable jump from the previous rates, which many Nigerians may find hard to swallow, particularly in the current economic environment.
The JTB has attributed the price increase to a rise in the cost of producing both driver’s licenses and vehicle number plates, which are largely manufactured using materials imported from other countries.
According to the board, the significant depreciation of the naira, coupled with inflationary pressures, has pushed up the prices of the raw materials needed to produce these items.
The board highlighted that the last review of these prices was conducted in 2021, when the naira stood at an exchange rate of ₦411.63 to 1 dollar.
Since then, the naira has continued to lose value against major international currencies, leading to higher production costs.
In its statement, the JTB noted that the new rates were necessary to “enhance the seamless production process” and to “improve quality service to the motoring public.”
The revised rates were finalised during the 155th Joint Tax Board Appraisal and Technical Committee Meeting, held on September 10, 2024.
